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China Asset Management Co. Introduces New Bitcoin and Ethereum ETFs
The recent launch of Bitcoin and Ethereum exchange-traded funds (ETFs) by China Asset Management Co. has opened up new investment opportunities for Chinese currency holders.
Interview with China AMC CEO Yimei Li
In a recent interview with Bloomberg, China AMC CEO Yimei Li highlighted that these ETFs mark a significant milestone in providing mainland Chinese investors with access to cryptocurrency investments.
Expanding Investment Channels for Mainland Chinese Investors
Despite the ban on crypto trading in mainland China, Li emphasized that the official introduction of these ETFs has created possibilities for RMB holders to explore new investment avenues.
- The ETFs offer flexibility for investors, allowing both cash and in-kind transactions.
- Trading counters are available in USD, HKD, and RMB, catering to both listed and unlisted shares.
- These ETFs are the first to provide a Chinese yuan trading counter for Bitcoin and Ethereum.
Potential Future Opportunities
Li expressed optimism about the future, stating that there could be new opportunities for mainland Chinese investors to participate in cryptocurrency investments in the coming days.
Initial Offering Period (IOP) Details
China AMC reported an initial offering period scale of $142 million, with HK$950 million allocated for the Bitcoin ETF and HK$160 million for the Ethereum ETF.
“We have witnessed top-down momentum pushing Hong Kong to become a global hub for Web3.0,” said China AMC (HK) CEO Tian Gan, highlighting the authority’s endorsement of Hong Kong’s competitive advantage in the virtual assets sector.
Gan further added, “We are fully embracing the mainstream transition of virtual assets by developing differentiated investment offerings to help clients achieve their investment goals in this new asset class.”
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
